Culmination Motorsports, Inc.
Culmination Motorsports, Inc. is a general automotive repair business located in Anchorage, Alaska. It financed real estate or equipment through an SBA 504 loan of $1,463,000, approved on July 29, 2024, with First-Citizens Bank & Trust Company as the participating bank and Evergreen Business Capital as the certified development company.
SBA 504 loan, approved Jul 29, 2024
$1,463,000 SBA portionCDC: Evergreen Business Capital25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,463,000
- Bank portion
- $1,576,460
- Estimated project size
- $3,377,178 (estimated)
- Estimated owner equity
- $337,718 (estimated, about 10% of the project)
- Bank lender
- First-Citizens Bank & Trust Company, Raleigh, NC
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- July 29, 2049 (estimated, approval date plus term)
- First disbursement
- Dec 11, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 811111, General Automotive Repair
- Project location
- Anchorage County, AK
- SBA district office
- Alaska District Office
- Congressional district
- AK-0
- Collateral
- Yes
Estimated share of project by source
Bank 47% SBA (CDC) 43% Owner 10%
- Larger than 61% of expansion loans in General Automotive Repair on this site.
- Average expansion loan in General Automotive Repair: $1,564,197.
- Average expansion loan in Alaska: $1,687,111.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Alaska
- NULAB Automotive, LLC, Anchorage
- Superior Automotive, LLC, Anchorage